Formal licensing agreement — factual summary
Factual summary drawn from the supplied English Artist Licensing and Royalty Agreement. The inquiry form does not accept or execute the contract.
- Parties: Everything Nubian LLC (“Company”) and the Artist.
- Purpose: Exclusive license to reproduce Artwork by printing it onto papyrus paper, and to market, distribute, and sell those papyrus reproductions in the United States under the Everything Nubian brand (“Licensed Products”). Papyrus reproductions only; other media require written agreement.
- Original ownership: Artist retains full ownership of the original Artwork and may sell, license, or display it in forms other than Licensed Products, including outside the United States, unless otherwise agreed in writing.
- Joint ownership of Licensed Products: Copyright and IP in the papyrus reproductions are jointly owned — undivided fifty percent (50%) interest each.
- Compensation: Company pays Artist fifty percent (50%) of Net Profits from sales of papyrus products bearing or incorporating the Artist’s prints or designs. Net Profits calculated and paid quarterly within thirty (30) days of each calendar quarter end.
- Quality & approval: Artist has a reasonable opportunity to review and approve print quality and presentation before sale.
- Term & termination: Continues until either Party terminates with thirty (30) days’ written notice. Company may sell existing inventory; Artist remains entitled to 50% of Net Profits on those sales. Joint ownership survives termination.
- Independent contractor: Artist is an independent contractor, not an employee, partner, or joint venturer (other than the joint ownership described).
- Confidentiality: Each Party keeps the other’s business plans, sales figures, and other non-public information confidential.
- Governing law: State of New Jersey, without regard to conflict of law principles.